On June 19, 2020, the IRS released Notice 2020-50, which provides additional guidance and relief for retirement plan participants taking coronavirus-related distributions and loans under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Under the CARES Act, “qualified individuals” may take coronavirus-related distributions of up to $100,000…
After receiving numerous complaints about the complexity of the loan forgiveness application form under the Paycheck Protection Program, the SBA and U.S. Department of Treasury on June 16, 2020 approved simplified versions of the forgiveness application. The original loan forgiveness application was 11 pages long, but now many borrowers under…
One topic new clients ask about is how they can resume a former name at the time they get divorced. Others were divorced but did not resume a former name at that time and ask is it too late to do so now? Still others did resume a former name…
Lindabury partner Kathleen M. Connelly of the firm’s Employment Law group discussed with ROI-NJ the question her clients have been asking most in regard to office reopenings, which is how to deal with employees who are reluctant to return to work due to a generalized fear of COVID contraction. While…
On June 5, 2020, the Paycheck Protection Program Flexibility Act of 2020 (“PPPFA”) was signed into law. The PPPFA is aimed at providing borrowers with additional flexibility to maximize forgiveness of loans received under the Paycheck Protection Program (“PPP”) established as part of the CARES Act. The following provisions of…
This webinar addresses best practices to protect yourself virtually during the coronavirus pandemic. Presented by Eric Levine, Executive Vice President of Lindabury, McCormick, Estabrook, & Cooper and Co-Chair of the firm’s Cybersecurity and Data Privacy practice, this virtual presentation was hosted by The Suburban Chamber of Commerce. Mr. Levine works…
In response to the COVID-19 public health emergency, Congress passed the Families First Coronavirus Response Act (the “FFCRA”) requiring employers with 500 or less employees to provide paid sick leave and paid family leave to qualified employees affected by the pandemic. These benefits are in addition to any other earned…
On May 21, 2020, the U.S. Department of Labor (“DOL”) announced a final rule allowing employers to post retirement plan disclosures online or furnish them to workers via email. The rule is aimed at reducing administrative expenses for employers and making information more readily available to workers. ERISA-covered retirement plans…
Will your assets pass to family if you die without a Will in New Jersey? Not necessarily. In some cases, a decedent’s property can actually escheat, or revert, to the State of New Jersey when the decedent has living relatives. The only way to ensure that your property is distributed…
The COVID-19 crisis, and its attendant rules of social distancing, face masks, etc. have presented new challenges to estate planning attorneys in the realm of document executions. How are we advising clients who wish to sign their estate planning documents during this pandemic? The usual participants when we meet with…